At global climate summit, PM Modi unveils new US partnership to foster investments, ties

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Modi Looking for concrete actions to combat climate change, add such actions needed on “high speed, on a large scale, and with global scope”. He showed India carried out its part through steps such as the 450 GW renewable energy target in 2030.

Prime Minister Narendra Modi
Prime Minister Narendra Modi

Prime Minister Narendra Modi on Thursday launched a new partnership with the US for investment and collaboration to overcome climate change and told the global Summit organized by President Joe Biden that the approach “Returning to Basics” must guide the economic recovery in post-covid-19 times.

The two-day virtual leader summit in the climate, the first major global initiative by Biden since he assumed the office in January, uniting around 40 world leaders to establish solutions to climate change and strong economic development. India is seen as a key strategy in the future about climate action, given the increasing consumption of fossil fuels and economic growth in recent years.

Modi did not promise for new purposes, even though he announced a new initiative with the US. He and Biden launched the “Indian-US climate bond and 2030 clean energy partnership” to “help mobilize investment, show clean technology, and allow green collaboration”, he said.

Further details of this partnership are not immediately available from both countries.

Modi also emphasizes the importance of changes in lifestyle in climate action. “Sustainable lifestyle and the ‘back to basis’ guide philosophy must be an important pillar of our economic strategy for the post-covid era,” he said.

Even though people around the world fight against global pandemics now, these leaders of the Summit in the climate are “timely reminders that the threat of climate change is not lost,” Modi said.

“In fact, climate change is the reality of life for millions of people around the world. Their lives and livelihoods have faced their poor consequences,” he added.

Modi Looking for concrete actions to combat climate change, add such actions needed on “high speed, on a large scale, and with global scope”. He showed India carried out its part through steps such as the 450 GW renewable energy target in 2030.

“Apart from the challenges of our development, we have taken many bold steps on clean energy, energy efficiency, afforestation and bio diversity. That is why we are among several countries that are NDCS [nationally determined contributions] compatible with 2 degrees Celsius,” he said.

India also encouraged global initiatives such as the International Solar Alliance and the Coalition for the Tanggal Infrastructure of Disaster and Carbon Per capita traces of the country 60% lower than the global average because the people’s lifestyle was rooted in sustainable traditional practices, he said.

As a developing country, India welcomes partners to make templates for sustainable development which can also help other developing countries that require access to affordable to green finance and clean technology, he added.

Quoting Swami Vivekananda’s call to “get up, wake up and stop until the goal is reached,”, Modi said: “Let’s make this a decade of action against climate change.”

Biden described climate change as a “existential crisis of our time” and announced a new goal to cut USGreenhouse gas emissions by up to 52% by 2030 when he launched the Summit. “This is a decade we must make decisions that will avoid the worst consequences of the climate crisis,” he said.

US new targets are relative to the level of 2005, and the steps of Biden government intend to place increased fuel efficiency vehicles, support carbon capture in industrial facilities and pollution-free moves.

China was also viewed as very important for all global climate action efforts considering its energy consumption and economic growth and President XI Jinping told the state summit to control coal consumption in the coming years and reduce the use of fossil fuels for 2026-30.

Under the 2015 Paris Climate Agreement, world leaders agreed to limit global warming to below 2 degrees Celsius. The average global temperature has increased by more than 1.1 degrees Celsius since 1980, and this has been quoted by experts as a cause of severe heat waves, droughts and storms.

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